From Assagao and Candolim in Goa to Baros and Medhufaru in the Maldives to the Palm Jumeirah islands in Dubai, affluent Indians are buying luxurious villas, and exquisite houses in locations deemed safe and offering better business opportunities with lower taxation rates.
Well-established Indian families, CXOs, and startup founders are investing in plush properties within India, like luxury villas in Goa and places abroad where geopolitical risks are extremely low. It is a trend witnessed during the pandemic, said luxury property development and brokerage companies.
A recent survey by some renowned international realty firms pointed out that many HNIs (high net-worth individuals) in India are looking to purchase a luxurious residential property in the coming two years. They said the prime reason for buying property during COVID-19 is a lifestyle upgrade.
Reportedly, Sanjay Reddy’s wife, Pinky Reddy, purchased a secular sea-facing property in North Goa, for which she has spent around Rs. 80 crore. And G.S Raju, a successful entrepreneur from Hyderabad, paid approximately Rs. 20 crore for a luxurious villa in Goa.
As a Bengaluru-based entrepreneur, Ravi Chandani, buying a luxury house in a different and safe place is a solid investment plan. “The strategy is to do risk by investing in different geographies.”
Rich Indians are Living Lavishly in Homes Away From Home
Buying either the most expensive house or an average one in Goa is a new trend in the property market these days. Several buyers are looking after luxury villas in Goa, according to a reputed newspaper, The Economic Times.
Living a luxurious life at a posh location and calling it your home is a new way of living a decent life for the richest peeps. As per this, a Bengaluru-based digital brokerage firm owner, a senior investment banker, and a cryptocurrency investor in his 30s are amongst the wealthiest folks who have purchased luxurious villas throughout the world, be it Dubai or Maldives.
Recently, one of the richest investment bankers purchased the most expensive house in Goa. Perceiving the demand, the prices of luxury villas in Goa, Maldives, Dubai, and many other places are rising. For instance, Goa is currently in high demand for luxurious villas; thus, the property prices in Assagao have gone up to Rs. 50,000 per sq. m. from Rs. 30,000 per sq. m. two years back, stated Ritu Nanda, a Goa-based designer of luxury homes.
